Bill Gates calls for higher taxes on the rich — but warns against crushing the American dream

[Pelican Press 0]

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Bill Gates calls for higher taxes on the rich — but warns against crushing the ********* dream

Bill Gates’ ideal tax system would leave him worth 62% less, but still a billionaire.Afolabi Sotunde / Reuters

Bill Gates’ ideal tax system would leave him worth 62% less, but still a billionaire.

He warned that excessive taxes would deter people from starting businesses and curb economic growth.

The

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cofounder said the rich should pay higher taxes and give the rest to good causes.

Bill Gates wants steeper taxes on the wealthy — but not so steep that he wouldn’t be a billionaire, or that the founder of the next

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wouldn’t become one.

“I would

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for rich people,” Gates said during a recent live recording of the “On With Kara Swisher” podcast.

He voiced support for a tax system that would take away 62% of his wealth — but not over 99% as one hardline critic, Sen. Bernie Sanders, called for on his new

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“

“You definitely do get to the point where … you’re ******** the goose that lays the golden egg,” Gates said, noting that North Korea has “unbelievable equality.”

“We’ve created wealth, and I think that the system that does that has a few elements that we shouldn’t throw out,” he added.

The

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cofounder ranks as the world’s sixth-richest person with a $163 billion net worth, per the Bloomberg Billionaires Index.

He said America is the “envy of the world” as a place for

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, and the economy has to grow for the government to raise the social safety net as high as progressives like Sanders want.

Gates also said he’s a “huge believer” in the estate tax, and eliminating it would be a mistake as that would protect

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— wealth that’s inherited, not earned.

The tech billionaire and cofounder of the Bill & Melinda Gates Foundation said the uber-wealthy should give more money to the government and commit the rest to help others. He said that “once you pay those taxes, whatever’s left over, you should engage in philanthropy.”

Gates’ latest comments suggest he’d like to be about $100 billion less wealthy at around $62 billion. He’s previously said he would have paid “

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” more in taxes if he’d designed the US tax system.

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